Please find attached NCLT Order admitting Application against company
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The NCLT Mumbai Bench has admitted an insolvency application under Section 7 of the Insolvency & Bankruptcy Code against PS IT Infrastructure & Services Ltd, filed by Golden Medows Export Private Limited. The default relates to an unpaid Inter Corporate Deposit of Rs. 2.90 crore in principal plus Rs. 20.02 lakh in interest (total Rs. 3.10 crore) disbursed in 7 tranches between June and August 2024 at 9% interest. The company failed to repay the loan by June 2025 despite multiple notices. Mr. Rajneesh Kumar Aggarwal has been appointed as the Interim Resolution Professional (IRP) to take over the company's management. A moratorium is now in effect, suspending all suits and recovery actions against the company, and the existing board/MD has been displaced from management control.
This is a severe negative event for shareholders. The stock is likely to face significant selling pressure and could hit lower circuits. Existing equity could be heavily diluted or wiped out depending on the resolution plan approved by the Committee of Creditors. Shareholders should expect high volatility and may need to reassess the long-term viability of their investment.